Commercial Lease Agreement

This deed of commercial lease agreement is made on the First day of

February, 2019

(A) Mr.Sailen Das, S/o Mr.Kailash Das, by caste Hindu, resident of R.G.Baruah Link Road No 1,
Chandmari, Guwahati – 781003 in the district Kamrup, Assam (herein after referred to as
LANDLORD) the FIRST PARTY
(B) Md.Ghulam Usmani, aged about 25 years, by caste Muslim, S/o Md.Zahuruddin, resident of
Raumari Pathar, P.S.Tarabari, district Barpeta, Assam. (herein after referred to as TENANT) the
SECOND PARTY
Now this deed of lease agreement is witnessed and both the FIRST PARTY (LANDLORD) and
the SECOND PARTY(TENANT) has agreed with each other to abide on the following terms
and conditions.
(C) Whereas the FIRST PARTY is the absolute owner of the 3 storied RCC Building under holding
number 5611, Ward No 91 under Guwahati Municipal Corporation, situated at R.G.Baruah Link
Road No 1, Chandmari, Guwahati – 781003 in the district Kamrup, Assam and whereas the
SECOND PARTY approached the FIRST PARTY to lease out the ground floor room number
3A for commercial purpose and the FIRST PARTY has agreed to it.
1. That the SECOND PARTY has agreed to lease out the aforesaid office space for a period of 10
years starting on 1st February, 2019.
2. That the SECOND PARTY has agreed to pay an advance amount of Rs.5,00,000 (Five Lakhs
Only) by cash towards the security for the aforesaid area/office space.
3. That the advance amount of Rs.5,00,000 only will remain with the FIRST PARTY as security
deposit nd the said amount will be refunded when the SECOND PARTY vacates the place at the
end of the lease agreement.
4. No interest will be paid to the SECOND PARTY by the FIRST PARTY on Rs.5,00,000 only
which remains as security with the FIRST PARTY.
5. That the electricity bill, maintenance and others shall be paid by the SECOND PARTY within a
period of 7 days of every succeeding month. The SECOND PARTY has to pay 15% interest on
the electricity bill, maintenance and others per week if he fails to pay the monthly billing amount
within the first seven days of every month.
6. That the lease agreement shall continue for period of 10 years from the date of commencement
of this lease agreement and that the SECOND PARTY won’t be liable for rejecting the lease
during the currency of this lease agreement.
7. That the FISRT PARTY will repay the amount of security deposit if lease is not renewed further
for any reason.
8. The SECOND PARTY will hand over the aforesaid area to the FIRST PARTY as it is at the time
of vacating the house/office space without any damage to it.
9. That the SECOND PARTY shall entitle to use the premises hereby leased out as
shop/showroom/office for their business or trade.
10. That the SECOND PARTY shall keep the premises in good condition to normal wear and tear.
11. That without any consent in writing of the FIRST PARTY, the SECOND PARTY is not to
assign his/her interest in the said premises under this deed of part with the possession of the same
or any part therefore to any person whomsoever to make any alteration therein.
12. That the SECOND PARTY shall not store any inflammable or offensive goods in the said
premises.
13. That the SECOND PARTY shall not permit any act to be done which may cause nuisance to the
neighbor or any act of illegality that powers threat to the society as well.
14. That the SECOND PARTY has to pay an amount of Rs.300(Three Hundred Only) per month for
maintenance
Building Name :- Kasturi Enclave

Address :- R.G.Baruah Link Road No-1

Opp. Guwahati Commerce College

Guwahati – 781003

Rented Part :- Ground Floor , Room No 3(A)

Size of room :- 850 Sqft (Approx)

Witnesses :-

1. Signature of the First Party

2. Signature of the Second Party
 Institute of Management
CHRIST (DEEMED TO BE UNIVERSITY), Bengaluru

Business Law (MBA 332)

Report submitted as part of CIA 2

Topic – Lease Agreement

Submitted By-
Rishav Chaliha (MBA-J)
Register Number – 1827725
Report submitted to -
Dr. Antony Cruz